With 90 per cent of the world’s wild fish stocks now overexploited, farmed fish has arguably become a necessity; Omega-3 oils from fish are essential for human health. However, University of Edinburgh graduate Douglas Martin knows only too well the issues this industry faces.
“Farmed fish clearly have a less detrimental environmental impact than trawling. But when you consider that it takes close to one and a half kilos of fish meal and oil to produce one kilo of farmed salmon, it’s not sustainable either. We’re catching more than we grow.”
Douglas is the Founder and CEO of MiAlgae, an innovative Scottish biotech startup aiming to eliminate reliance on wild-caught fish as a source of Omega-3s, by harnessing the potential of microalgae.
The idea came to Douglas while studying for his MSc in Synthetic Biology and Biotechnology at Edinburgh.
“Fish don’t make Omega-3 oils. They accumulate them from the plankton they eat, such as algae”, he explains. “I realised if we could cultivate Omega-3-rich microalgae, using precision fermentation, we could create a nutritious, natural and ocean-friendly sustainable alternative to wild-caught fish.”
Harnessing the water of life
Douglas works with fellow Edinburgh Synthetic Biologist James Gilman, now Head of Research and Development at MiAlgae. After months of experimenting with different materials to feed the microalgae, they discovered that using by-products from one of Scotland’s most emblematic and successful industries proved to be the winning formula.
“With more than 140 distilleries in Scotland, whisky by-products are an abundant, cost-effective and safe food source for microalgae production,” Douglas explains.
Nine years on, MiAlgae now employs more than 50 people and has proven its technology at scale. The company is about to build a state-of-the-art new production facility in Grangemouth that will cultivate thousands of tonnes of microalgae in specially designed bioreactors each year. MiAlgae turns this algae into an Omega-3-rich powder ready to add to animal and aquaculture feed for clients worldwide, returning clean water in the process.
MiAlgae’s pioneering innovation resulted in the company being announced as finalists in the prestigious Earthshot Prize last year in the category of ‘Revive our Oceans’. This honour, awarded to groundbreaking solutions addressing the world’s most urgent environmental challenges, places MiAlgae on a global stage alongside other innovators dedicated to regenerating the planet.
One-to-one support
Douglas first approached the Student Enterprise team in 2016. He likens his first meeting to a therapy session.
“I walked in with a crude idea, grasping at straws without knowing what to do with it,” he recalls. “Our business advisor knew exactly the right questions to ask to help me find my own answers. I had already killed many ideas on paper without testing them out in the world before. But this and subsequent conversations gave me the confidence to approach people. So, armed with my University of Edinburgh student email address, I began reaching out to potential customers, which helped me get to the root of the problem my idea was solving and understand how to commercialise it.”
A guide through the entrepreneurship journey
The Student Enterprise team supported Douglas through pitching competitions, where he secured initial funding and met investors who would go on to fund MiAlgae further.
“I set up the company in September 2016 and was fully funded by July 2017. At every step, our advisor painted a realistic picture of what entrepreneurship would look like and guided me through the various stages of getting MiAlgae off the ground,” Douglas recalls. “They gave me access to entrepreneurs a couple of years ahead of me on the journey and helped me access information I otherwise wouldn’t have had that I needed to proceed. Such small nudges at the right time can save you years – we would not have progressed as quickly as we did without their support.”
Old College Capital, the University’s venture investment fund, part of Edinburgh Innovations, has since invested in MiAlgae from its funds, which come partly from its returns on investments in previous University of Edinburgh spinout and startup companies.
Enormous potential
Douglas’s own journey reflects the transformation of the student enterprise service available at Edinburgh Innovations. When he first stepped through the door nine years ago, he was one of 28 student startups, supported by a team of three staff members. Today, a dedicated team of 11 provides a comprehensive service for all current students and recent graduates from the University. Thousands now benefit each year from workshops, events and programmes, as well as competitions, online resources and one-to-one business advice.
In the past two years alone Edinburgh Innovations has supported the formation of 171 student startups. In 2024/25, those ventures secured more than £11.8 million in investment, grants and funding. The University of Edinburgh remains the top University in Scotland for student startups (HESA 2023/24) and ranks first in the world for industry, innovation and infrastructure (THE Impact Rankings 2025). It marks an extraordinary evolution in less than a decade.
This year also saw the team move the entrepreneurial hub to the e-zone at the Bayes Centre, creating a vibrant new home for innovation on campus. Staff, students, alumni and the wider entrepreneurial community are invited to work, meet and collaborate there, with direct access to the Student Enterprise team and wider Edinburgh Innovations Venture Creation team.
Earlier in the year, Edinburgh Innovations joined the Pathways Pledge on behalf of the University of Edinburgh, committing to support women entrepreneurs. The Pledge calls on organisations to help tackle the ‘extreme under-participation’ in Scotland’s entrepreneurial ecosystem, as uncovered by a 2023 Scottish Government report.
Nothing to lose
As MiAlgae’s success demonstrates, the right idea paired with the right support can create extraordinary impact. With a strengthened enterprise ecosystem, a growing community of innovators and a commitment to widening participation, Edinburgh is ensuring that many more students will be able to seize their own moment of inspiration – and turn it into something that can change the world.
Douglas agrees. “You don’t go from zero to hero overnight, and you have nothing to lose. Whether you become an entrepreneur or not, pursuing your ideas is a valuable learning opportunity to build your life and career. Asking for help is the first step. I’ve received a lot of support from many places, and wherever I can help others on their journey, I absolutely will.”
Image credits: Featured image, Kunhui Chih/Getty; Douglas Martin portrait – Douglas Martin; Douglas Martin at Inspire, Launch Grow Awards – Edinburgh Innovations.
This post was updated in December 2025 to include latest developments from MiAlgae, including being a finalist in the Earthshot Prize last year and latest figures and updates about Edinburgh Innovations.
